ACIT vs. M/S COASTAL ROAWAYS,
In the result, appeal by the Revenue is dismissed and the CO is partly allowed
ITA 1139/BANG/2013[2008-09]Status: DisposedITAT Bangalore08 Jan 2016AY 2008-09
Bench: Shri N.V.Vasudevan & Shri Inturi Rama Raoasst. Commissioner Of Income-Tax, Circle 1(1), Mangalore. … Appellant Vs. M/S. Coastal Roadways, D.No.4-64/11, Bantwal Chambers, Balikampady, Mangalore. … Respondent Pan:Aaffc 5977 M Cross Objn.No.35/Bang/2013 (In Ita No.1139/Bang/2013) (Assessment Year: 2008-09) (By The Assessee) ****** Revenue By: Dr. P.K.Srihari, Addl.Cit. Assessee By: Shri R.E.Balasubramaniyan, Ca. Date Of Hearing : 05/01/2016 Date Of Pronouncement: 08/01/2016 O R D E R Per N.V.Vasudevan, Jm:
For Appellant: Shri R.E.Balasubramaniyan, CAFor Respondent: Dr. P.K.Srihari, Addl.CIT
Section 143(3)Section 40A(3)
gains of business or profession under the proposed sub-section (3A) of section 40A, as the case may be. To illustrate with an example, let us assume a taxpayer has incurred an expenditure of Rs 40,000/-. The taxpayer makes separate payments of Rs
15,000/-, Rs 16,000/- and Rs 9,000/- all by cash, to the person concerned
